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Sensex up 89 points; rupee up 12 paise in early trade

BSE

BSE Sensex recovered nearly 89 points where rupee recovered by 12 paise to 60.01 against the dollar in early trade today

SensexMumbai: The benchmark BSE Sensex recovered nearly 89 points in early trade today on emergence of buying by funds and retail investors amidst a firming trend in global markets after Federal Reserve Chief Janet Yellen’s upbeat outlook on the US economy.

The 30-share index rose by 88.71 points, or 0.40 per cent, to 22,412.61 points with metal, healthcare, realty and power sector stocks leading the recovery. The index had lost 184.52 points in yesterday’s trade.

The National Stock Exchange index Nifty moved up by 25.10 points, or 0.38 per cent, to 6,677.65.

Brokers said fresh buying by funds and retail investors, triggered by a better trend at other Asian bourses following overnight gains in the US markets on upbeat comments from Fed chief on the economy, influenced the trading sentiment here.

US Fed Chief told Congress that the economic outlook was positive and that the stimulus taper would continue steadily.

Among other Asian markets, Hong Kong’s Hang Seng rose by 0.36 per cent, while Japan’s Nikkei was up by 1.09 per cent in early trade today.

The US Dow Jones Industrial Average gained 0.72 per cent in the previous session.

Rupee up 12 paise against dollar in early trade

The rupee recovered by 12 paise to 60.01 against the dollar at the Interbank Foreign Exchange market today on fresh selling of the US currency by exporters.

Forex dealers said a higher opening in the domestic equity market and strengthening of the euro against the US currency overseas also supported the rupee.

The rupee closed 2 paise lower at 60.13 yesterday as a sudden demand for the US currency emerged at fag-end of trade.

Meanwhile, the benchmark BSE Sensex rose by 88.71 points, or 0.40 per cent, to 22,412.61 in early trade today.

PTI

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